The Thai baht rally will help reverse a slump in its market for initial public offerings and provide fire-power for overseas acquisitions by Thai companies, according to JPMorgan Chase & Co.
IPOs will benefit from prospects of the strong baht and a heightened profile for the country as a rebound in international travel accelerates, said Marco Sucharitkul, JPMorgan’s country head for Thailand. The currency has strengthened by about 12% versus the United States dollar the past six months, with a more than 5% jump this month alone, making it the best-performer in Asia during those periods.
